Eliot Spitzer: Bush Shielded Subprime Predators

Eliot Spitzer had a deep understanding of the corruption on Wall Street, and he wasn't afraid to take on corrupt fat cats and politicians. Early on he warned that predatory lenders were gauging the little guy, and if left unchallenged, their greed explode our financial system.

Spitzer--along with the country's attorneys general--sought permission to do what the Bush administration refused to do: prosecute mortgage industry lawbreakers. They were flatly denied.

Shortly before Spitzer's fall from grace, he penned a letter to the editor of the Washington Post which included this warning:

When history tells the story of the subprime lending crisis and recounts its devastating effects on the lives of so many innocent homeowners, the Bush administration will not be judged favorably. The tale is still unfolding, but when the dust settles, it will be judged as a willing accomplice to the lenders who went to any lengths in their quest for profits. So willing, in fact, that it used the power of the federal government in an unprecedented assault on state legislatures, as well as on state attorneys general and anyone else on the side of consumers.

It's clear that Bush and his cronies just don't care about average Americans. Think about it. The Bush regime not only didn't do their job but they actively worked to bar states from seeking to protect the people.

Now, the Bush regime proposes to bailout Wall Street and nothing for the subprime victims. A modified version of that bailout bill was just defeated -- ironically, by the Republicans egged on by the kings of chaos on rightwing radio. These racists blame the Wall Street meltdown on minority victims of subprime predator lenders.

Link: Predatory Lenders' Partner in Crime: How the Bush Administration Stopped the States From Stepping In to Help Consumers

Eliot's Mess: The $200 billion bail-out for predator banks and Spitzer charges intimately linked

Marcy Kaptur warns “there are domestic enemies to the Republic”

Rep. Marcy Kaptur's declares from the floor of the U.S. Congress that domestic enemies of the Republic are the ones pulling the strings in pushing through the unprecedented $700 billion bailout of Wall Street.

"My message to the American people don’t let Congress seal this deal. High financial crimes have been committed."

"The normal legislative process has been shelved. Only a few insiders are doing the dealing, sounds like insider trading to me. These criminals have so much political power than can shut down the normal legislative process of the highest law making body of this land."

"We are Constitutionally sworn to protect and defend this Republic against all enemies foreign and domestic. And my friends there are enemies."

"The people pushing this deal are the very ones who are responsible for the implosion on Wall Street. They were fraudulent then and they are fraudulent now."

Lots of Americans smell a rat in the rush to bailout of Wall Street -- and concerned folks are raising questions about the rescue plan and who's responsible for the financial mess.

Kaptur suggests that she knows who the people are and that they are criminal enemies of the nation. As an elected representative of the people and an official who has promised to protect the nation, it seems to me that Kaptur must let the people know what's really going on.

Related: Rep. Marcy Kaptur's New Rules for Wall Street

MADtv's Sarah Palin does a Q&A

MAD-tv's Sarah Palin takes audience questions. It's funny but my heart is with Fey.

Tina Fey as Palin Week 2: Even Funnier!

I didn't think SNL could top last week's hilarious Tina Fey-as-Palin inaugural skit, but I was wrong. Last night's sit down with Katie Couric was even funnier -- and, because we're talking about a very serious possibility--a McCain/Palin Regime--even scarier.

However, as political comedy it was great.

NBC/SNL Video Link

Paraguay's Lugo -- No Palin Photo Prop

Last week, John McCain sought to bolster Sarah Palin's nonexistent foreign policy credentials by having her sit for photographs with willing heads of state.

As expected, Palin scored photo-ops with Afghanistan's Hamid Karzai, Colombia's Alvaro Uribe, Georgia's Mikheil Saakashvili, Ukrainian's Viktor Yushchenko, Pakistan's Asif Ali Zardari, Iraq's Jalal Talabani and India's Manmohan Singh as these leaders gathered in NYC for the annual UN General Assembly.

However, it appears some dignitaries shunned the political sideshow, declining the photo prop pleas of McCain-Palin. One such person is the newly elected President of Paraguay - Fernando Lugo. He is said to have confided to friends in NYC that he turned down an invitation to take pictures with Palin.

Who is Fernando Lugo?

He's a former Roman Catholic bishop, progressive and champion of the poor who broke the 62-year rule of the country's repressive rightwing regime.

Very interesting considering the cozy relationship between the U.S. government and the Paraguayan regime defeated by Lugo.

BTW: The U.S. established an airbase in strategically located Mariscal Estigarribia in Northern Paraguay -- an area with access to the Guarani Aquifer, the world's largest source of fresh drinking water; close to Bolivia's natural gas reserves, the second largest in Latin America; and within aerial reach of Argentina, Bolivia, Brazil and the rest of the continent. Additionally, Rev. Sun Myung Moon owns (1,482,600 acres), and George W. Bush is rumored to have recently purchased (100,000 acres), land atop the aquifer in Chaco.

Q: So, why was Lugo invited to sit with Palin? After all, Lugo is a left of center leader whose family members were persecuted by fascist Paraguayan regimes in league with the U.S. government--and who has not been an ally of the U.S. rightwing.

Links:
President of Paraguay Turns Down Meeting with Sarah Palin
Bush's Paraguay Land Grab
Where in South America is Sun Myung Moon?
The Bushes and the Moons
'Bishop of the poor' is winner in Paraguay poll
Fernando Lugo: Paraguay's 'Bishop of the Poor' Seeks Presidency
U.S. Military Eyes Paraguay
PARAGUAY-US: ‘Base’ story revived, with twists
U.S. military presence in Paraguay

Who Won the 9/25 Presidential Debate? Obama

Video Clip of the Debate's Defining Exchange

Senator Barack Obama won this evening's first presidential debate at Ole Miss for these reasons:

- Obama more than held his own against a 26 year political veteran.
- Obama offered superior judgement in pursuit of national security interests.
- Obama was gracious, respectful and likable.
- Obama offered proposals that benefit middle Americans - tax cuts, smarter foreign policy, energy diversification, affordable college, etc.
- Obama looked and sounded like a commander-in-chief.
- Obama displayed a command of domestic and foreign policy.

In comparison, McCain was overly aggressive, condescending and repeatedly misrepresented Obama's positions. Additionally....

- McCain had surprisingly little to offer Americans on economics.
- McCain came off like an stubborn old man on the issue of the Iraq War.
- McCain was ungracious, condescending, and dismissive. He never looked at Obama.
- McCain became visibly angry when challenged.
- McCain repeatedly threw his political ally George W. Bush under the bus.
- McCain seemed too desperate, repeatedly pleading for support.

My "America First" Bail Out Plan: Help The People; Prosecute Wall Street Executives, Corporate Lobbyists and Corrupt Politicians

I agree with Kaptur, Kucinch and Obama, so I offer my own complementary plan:

My plan also focuses on preserving home ownership; however, I'll do it by aligning mortgage payments with the market value of their properties. Lenders would be mandated to refinance existing mortgages to sub prime borrowers (exclusive of investors) at risk of foreclosure.

The refinancing packages would come with a subsidy of between 5% and 30% of principal; long-term, fixed rates; transferability; and default insurance.

The result is greater affordability, stability as well as liquidity.

I figure such a package costs upwards of $360 billion, or about half of what Bush wants to give to Wall Street. However, the the cost to the public diminishes over time as the housing market stabilizes and homes begin selling at appreciated values.

I would add repayment clauses to reclaim all or partial payment on the subsidies for homes selling at appreciated values. Additionally, I would add a transaction surcharge on exotic and large Wall Street transactions, and on executive pay, bonuses and dividends in order to re-coup the public investment.

I would also institute tighter oversight and enhanced regulation over the credit markets; outlaw certain Wall Street practices which do nothing but generate huge fees; prosecute Wall Street executives, mortgage brokers, real estate brokers and others involved in deceptive practices and/or shirking their fiduciary responsibilities; and I would only license the selling and packaging of mortgages and mortgage products to insured, bonded and regulated institutions, banks and consumer credit unions.

What say you?

Rep. Marcy Kaptur's New Rules for Wall Street

U.S. Representive Marcy Kaptur (D-Ohio) skewers the Bush regime and Wall Street fat cats on their rush to bail out the greedy. In addition, Kaptur proposes a series of reforms focused on securing the finances of the people while prosecuting Wall Street criminals.

Her rallying cry - Real Reform Now or Nothing!

Head of Skate: The Sarah Palin Disney Trailer

This may be the funniest video of this improbable yet politically humorous presidential campaign.

It's a "movie trailer" about a suburban hockey mom who finds herself President and C.I.C. of the USA. She's plucked from her hockey mom to become VP. The old geezer POTUS croaks -- elevating the mom to commander-in-chief of the world's sole superpower.

Looking to take advantage of the novice national leader's inexperience, Russia's Putin makes his move. The president must respond. Relying on her hockey instincts, she challenges the would-be Czar to a face-off.

Yes, an actual one-on-one face off on ice in pads, helmet, mouth guard and stick.I think you can figure out how the story ends. Very funny. And scary!

Latinos: Americans All

It's Hispanic Heritage Month and Columnist Miguel Perez offers timely and helpful advice to U.S. Latinos:

When they ask you how long you and "your people" have been in this country, tell them, "Several hundred years."

And when they ask you how long you have been an American, even if you arrived in the United States last week, there is only one accurate answer: "All my life."

It's true, and the advice sound. Click here to learn why.